Patrick Industries slumps on all-stock merger plan with LCI

Patrick Industries

30/06/2026 17:35

** Patrick Industries PATK.O slumps 10% to $83.84, RV components supplier LCI Industries LCII.N rises 2.6% to $103.75
** Cos announce plan for an all-stock merger deal
** Shareholders to receive 1.24 shares of PATK for each LCII share
** Patrick shareholders to own ~52% of the combined co; LCI shareholders to own ~48%
** Deal implies ~7% premium to PATK's shares when it was first reported on April 17 and about 15% to stock's last close
** LCII to pay PATK termination fee of $94.2 million if merger is terminated in specific circumstances
** Deal to close in first half of 2027
** Including session's moves, LCII down 15.8% YTD, while PATK is down 20.8%

(Reporting by Sudeshna Ghoshal in Bengaluru)
((Sudeshna.Ghoshal@thomsonreuters.com;))